RB Capital Management LLC Sells 82 Shares of Costco Wholesale Co. (NASDAQ:COST)

RB Capital Management LLC cut its stake in Costco Wholesale Co. (NASDAQ:COST) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,313 shares of the retailer’s stock after selling 82 shares during the period. Costco Wholesale makes up 3.6% of RB Capital Management LLC’s investment portfolio, making the stock its 3rd largest position. RB Capital Management LLC’s holdings in Costco Wholesale were worth $15,348,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of COST. Maia Wealth LLC acquired a new stake in shares of Costco Wholesale in the second quarter worth approximately $301,000. AA Financial Advisors LLC acquired a new position in Costco Wholesale during the second quarter valued at approximately $206,000. Lodestone Wealth Management LLC lifted its position in Costco Wholesale by 5.3% during the second quarter. Lodestone Wealth Management LLC now owns 1,638 shares of the retailer’s stock valued at $1,392,000 after buying an additional 82 shares in the last quarter. Falcon Wealth Planning lifted its position in Costco Wholesale by 3.3% during the second quarter. Falcon Wealth Planning now owns 1,951 shares of the retailer’s stock valued at $1,658,000 after buying an additional 63 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. lifted its position in Costco Wholesale by 3.0% during the second quarter. Ferguson Wellman Capital Management Inc. now owns 24,481 shares of the retailer’s stock valued at $20,809,000 after buying an additional 718 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Performance

Shares of COST opened at $987.86 on Tuesday. Costco Wholesale Co. has a 1 year low of $618.76 and a 1 year high of $997.71. The company has a market cap of $437.69 billion, a price-to-earnings ratio of 59.62, a price-to-earnings-growth ratio of 6.05 and a beta of 0.82. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. The firm has a fifty day moving average of $917.82 and a 200-day moving average of $880.63.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.10. The business had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.86 earnings per share. As a group, equities analysts anticipate that Costco Wholesale Co. will post 17.74 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.47%. The ex-dividend date was Friday, November 1st. Costco Wholesale’s payout ratio is currently 28.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COST. Roth Mkm lifted their price target on shares of Costco Wholesale from $676.00 to $755.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. Morgan Stanley lifted their price target on shares of Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Tigress Financial reissued a “buy” rating and set a $1,065.00 target price on shares of Costco Wholesale in a research report on Thursday, October 17th. Stifel Nicolaus boosted their target price on shares of Costco Wholesale from $935.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, TD Cowen boosted their target price on shares of Costco Wholesale from $925.00 to $975.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Ten research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $928.50.

Insider Buying and Selling

In other Costco Wholesale news, EVP Russell D. Miller sold 4,400 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the completion of the sale, the executive vice president now directly owns 10,202 shares of the company’s stock, valued at approximately $9,091,512.30. This represents a 30.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the completion of the sale, the executive vice president now directly owns 10,210 shares of the company’s stock, valued at $9,155,409.10. The trade was a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,016 shares of company stock valued at $9,826,115 over the last 90 days. 0.18% of the stock is currently owned by company insiders.

About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.